Housing starts saw the biggest jump in 20 months nationwide, largely due to apartment construction. Construction of single family homes declined due to continued weak and unpredictable demand.
Visit http://www.anju4homes.com/ to begin your home search in the east bay.
Saturday, February 19, 2011
January home sales up, prices down
As compared to January 2010, home sales were up by 3.5% in Alameda county and by 1.3% in Contra Costa County, but prices went down by 9.6% and 6.7% respectively. Foreclosure sales as a percentage of total sales were 32.7% (36 % last year) in Alameda County and 44.9% (49.7% last year) in Contra Costa County.
Pending home sales were up by 34% in January this year as compared to last year in both counties, which is a very encouraging sign for the housing market.
Pending home sales were up by 34% in January this year as compared to last year in both counties, which is a very encouraging sign for the housing market.
Saturday, February 12, 2011
Bay Area Foreclosure Notices Up in January
There was a 40% spike in the foreclosure notices sent out in January over last year in the Bay Area. In Alameda County the increase was 30.1% over last year. According to RealtyTrac a total of 2,615 homes received a notice of default in January. Nationwide there was a decline of 27% from a year ago - the 12th consecutive year on year decline. Delinquency rates in California seem to be bucking the trend.
In Contra Costa the NOD's for January were up by 51.3% over last year!
Visit http://www.anju4homes.com/ for a list of foreclosure/short sale homes.
In Contra Costa the NOD's for January were up by 51.3% over last year!
Visit http://www.anju4homes.com/ for a list of foreclosure/short sale homes.
Monday, February 7, 2011
Pleasanton home Sales overview
Pleasanton home sales in the $1m - $1.5m were close to the peak years of 2006/7 – very encouraging indeed. All other price ranges fared quite well also, although the total number homes priced under $700k sold in 2010 were lower than the previous year. Homes priced over $700k all sold in greater numbers. Inventory levels in December 2010 remained at a 3 month supply – healthy level.
Go to http://www.anju4homes.com/ to start your home search in Pleasanton
Go to http://www.anju4homes.com/ to start your home search in Pleasanton
Ruby Hill Home Sales in January 2011
Low inventories and a shaking out of the bank owned and short sales should bode well for Ruby Hill home sales and prices this year:
January 31, 2011 Total Bank owned share Short Sale Share
Active 11 0 0
Pending 7 1 0
Sold to date 2011* 5 0 2
*COE 01/01/10 or later
Both of the short sale homes which closed escrow recently came on the market last year. 1026 Pineto sold for $2.95 million – it has 9,900 square feet of living space and a 35,000 square foot lot . The other short sale home on 3365 East Ruby Hill Drive sold for $3 million. Built by Doble and Son, it has 9,100 square feet of living space on a 27,000 square foot lot. The only bank owned home which was on the market since last year went pending – located at 1773 Via di Salerno! It looks like the short sales and bank owned homes are now gone from the inventory and will hopefully stay away!
January 31, 2011 Total Bank owned share Short Sale Share
Active 11 0 0
Pending 7 1 0
Sold to date 2011* 5 0 2
*COE 01/01/10 or later
Both of the short sale homes which closed escrow recently came on the market last year. 1026 Pineto sold for $2.95 million – it has 9,900 square feet of living space and a 35,000 square foot lot . The other short sale home on 3365 East Ruby Hill Drive sold for $3 million. Built by Doble and Son, it has 9,100 square feet of living space on a 27,000 square foot lot. The only bank owned home which was on the market since last year went pending – located at 1773 Via di Salerno! It looks like the short sales and bank owned homes are now gone from the inventory and will hopefully stay away!
Tuesday, February 1, 2011
Taxes Impacting Real Estate
Capital Gain Taxes – The Same for Now
Toward the end of 2010, many people wondered what would happen to capital gain tax rates on January 1, 2011.
Some even scrambled to close the sale of property before the end of the year. As it turned out, Congress extended the capital gain rates in mid December; at least for two years. The following is a brief summary of portions of the Tax Relief, Unemployment Insurance Reauthorization and Jobs Creation Act of 2010 (not surprisingly referred to as “the extension of the Bush Era Tax Cuts”) which are likely to impact real estate investors.
• Capital Gain and Dividend Rates – Current rates were extended for two-years for all taxpayers with a maximum rate of 15% for both.
• Personal Tax Rates – Current rates were extended for two-years for all taxpayers with the top rate
remaining at 35%.
• Social Security Tax – The employee tax rate of 6.2% on the first $106,800 of wages drops to 4.2% in 2011.
• Alternative Minimum Tax – Current exemptions were extended for all taxpayers for two-years.
• Estate Tax – An exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the
exclusion was established for two-years; the exclusion will become indexed beginning in 2012.
• Gift Tax – Like the Estate Tax, a Gift Tax exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the exclusion was established for two-years, with the exclusion being indexed
beginning in 2012.
• Other Extensions – The $1000 child credit; an additional standard deduction for real-estate taxes;
extension of 15-year cost recovery for certain leasehold improvements, restaurant buildings and qualified retail improvements (through 2011); and the extension of various energy credits (through 2011).
Although the legislation provides some certainty for two years, we may find ourselves questioning our future rates again in 2012.
This information is provided by James Callejas of Investment Property Exchange Services. For all your real estate needs please contact Anju Bhatia at http://www.anju4homes.com/
Toward the end of 2010, many people wondered what would happen to capital gain tax rates on January 1, 2011.
Some even scrambled to close the sale of property before the end of the year. As it turned out, Congress extended the capital gain rates in mid December; at least for two years. The following is a brief summary of portions of the Tax Relief, Unemployment Insurance Reauthorization and Jobs Creation Act of 2010 (not surprisingly referred to as “the extension of the Bush Era Tax Cuts”) which are likely to impact real estate investors.
• Capital Gain and Dividend Rates – Current rates were extended for two-years for all taxpayers with a maximum rate of 15% for both.
• Personal Tax Rates – Current rates were extended for two-years for all taxpayers with the top rate
remaining at 35%.
• Social Security Tax – The employee tax rate of 6.2% on the first $106,800 of wages drops to 4.2% in 2011.
• Alternative Minimum Tax – Current exemptions were extended for all taxpayers for two-years.
• Estate Tax – An exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the
exclusion was established for two-years; the exclusion will become indexed beginning in 2012.
• Gift Tax – Like the Estate Tax, a Gift Tax exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the exclusion was established for two-years, with the exclusion being indexed
beginning in 2012.
• Other Extensions – The $1000 child credit; an additional standard deduction for real-estate taxes;
extension of 15-year cost recovery for certain leasehold improvements, restaurant buildings and qualified retail improvements (through 2011); and the extension of various energy credits (through 2011).
Although the legislation provides some certainty for two years, we may find ourselves questioning our future rates again in 2012.
This information is provided by James Callejas of Investment Property Exchange Services. For all your real estate needs please contact Anju Bhatia at http://www.anju4homes.com/
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